Reference no: EM133338636

A Brief About FTC

First and foremost, before we express about the FTC website, it is essential to know briefly about its mission, vision, goals/plans, and purposes. Based on the information we learned from the FTC website, we have acquired that the FTC's mission is "Protecting the public from deceptive or unfair business practices and unfair methods of competition through law enforcement, advocacy, research, and education." Knowing this credible information about the FTC will allow one to explore either positive or negative opinions of the agency. With that being said, I would like to express my opinion on the values and purposes of the FTC.

Furthermore, after reviewing the FTC Agency's website, we have learned about its plans or goals, mission, and purposes that can be appealed to many people based on its core values and support. Based on the scope, we have learned that the FTC (is the only federal agency with consumer protection and competition jurisdiction in broad sectors of the economy. As a result, my impression is excellent about the FTC. My strong reasons are based on the fact that the agency has been embodied and reinforced by Congress. On its website, we have learned that "Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices."

In addition, we have again acquired that "When the FTC was created in 1914, its purpose was to prevent unfair methods of competition in commerce as part of the battle to "bust the trusts." Over the years, Congress passed additional laws giving the agency greater authority to police anticompetitive practices. In 1938, Congress passed a broad prohibition against "unfair and deceptive acts or practices." Since then, the Commission has also been directed to administer variations, including the Telemarketing Sales Rule, the Pay-Per-Call Rule, and the Equal Credit Opportunity Act. In 1975, Congress allowed the FTCndustry-wide trade regulation rules."

Nevertheless, many blogs on the agency's legal blog sections are on the FTC website. One of them is the Hart-Scott-Rodino annual report for the Fiscal Year 2020. Under the description of this blog, we have learned that "The Hart-Scott-Rodino Antitrust Improvements Act of 1976, Pub. L. No. 94-435 (HSR Act or the Act), together with Section 13(b) of the Federal Trade Commission Act and Section 15 of the Clayton Act, enables the Federal Trade Commission (FTC or Commission) and the Antitrust Division of the Department of Justice (Antitrust Division or Division) to obtain effective preliminary relief against anticompetitive mergers and to prevent interim harm to competition and consumers. The premerger notification program was instrumental in alerting the Commission and the Division to transactions that became the subjects of the numerous enforcement actions brought in fiscal year 20201 to protect Americans from anticompetitive mergers." Based on my assessment, I believe that the legal issues presented in this blog were worth valuing for their purpose.

Moreover, the Federal Trade Commission (FTC) in 1976 promulgated a trade regulation rule that applied to the following:

a. credit card transactions.

b. purchases of interests in real property.

c. purchases of goods or services for commercial purposes.

d. consumer credit transactions.

The impact of this regulation can be essential to the beneficiaries. Looking at the spectrum of credit card traction, consumer credit transactions, and services for commercial purposes are some of the vital areas of the FTC Agency Regulation. I also have a great impression of the enactment of this regulation.